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Analysis of the latest market trends for BTC and ETH: As of 10/31, the current market is near a key support level, presenting a complex pattern of interwoven bullish and bearish signals on the technical front. On one hand, the price has formed a bullish engulfing pattern near the strong support level of 101516.5, which is usually a potential reversal signal; on the other hand, the moving average system is still in a bearish arrangement, and a death cross has recently appeared, indicating that the overall trend remains weak. Moreover, insufficient trading volume further undermines the reliability of the technical signals, suggesting that investors should remain cautious. Given that the current market is in an unclear trend of consolidation and the price is close to a strong resistance level, combined with the bearish arrangement of the moving average system and enhanced momentum signals, it is expected that the price will face strong selling pressure near this resistance level. Therefore, a high shorting strategy is recommended to capture short-term pullback opportunities. The suggestion from Xiao Ma is still to engage in short-term trading with a light position.
BTC near 108500-109000 can be bought, target around 106500.
The range around 3800-3830 for ETH can be a pullback, with a target near 3700 #参与创作者认证计划月领$10,000 #GatePay国家码功能上线 #美联储如期降息25基点 #比特币行情分析